Stock Traders Buy High Volume of NIKE Put Options (NYSE:NKE)

NIKE, Inc. (NYSE:NKE) was the target of some unusual options trading activity on Thursday. Stock traders purchased 149,261 put options on the stock. This is an increase of approximately 59% compared to the typical volume of 94,115 put options.

NIKE Stock Down 0.3 %

NYSE NKE opened at $70.89 on Friday. NIKE has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. The stock’s 50 day moving average is $75.87 and its two-hundred day moving average is $77.96. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. Equities analysts forecast that NIKE will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. NIKE’s dividend payout ratio is presently 49.38%.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On NIKE

Institutional investors have recently added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE during the third quarter worth approximately $30,000. VitalStone Financial LLC grew its position in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Dunhill Financial LLC increased its holdings in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. Ecofi Investissements SA bought a new position in NIKE in the 2nd quarter valued at $49,000. Finally, Riverview Trust Co acquired a new position in NIKE in the third quarter worth $52,000. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Jefferies Financial Group increased their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Evercore ISI lowered their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Robert W. Baird cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.